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On June 22, 2021, a Xiaomi logo is shown at a Xiaomi store in Shanghai, China. Getty Images | Visual China Group | Wang Gang GUANGZHOU, CHINA (Xinhua) — According to a new report from analysis firm Canalys, Chinese smartphone maker Xiaomi overtook Apple as the second-largest smartphone maker in the second quarter. Xiaomi took 17 percent of worldwide smartphone shipments, beating Apple’s 14 percent and falling short of Samsung’s 19 percent. “Xiaomi’s export business is fast developing,” noted Canalys Research Manager Ben Stanton in a news statement, noting that shipments climbed by 300 percent in Latin America and 50 percent in Western Europe year over year. The Chinese smartphone company had an 83 percent increase in year-over-year smartphone shipment growth, compared to 15 percent for Samsung and 1% for Apple. However, Stanton pointed out that Xiaomi phones are still geared toward the general market, with average selling prices 75 percent lower than Apple’s. However, the Beijing-based firm is now attempting to get into the high-end market. It released the Mi 11 Ultra earlier this year, a premium smartphone that starts at 5,999 yuan ($928). It also unveiled the Mi Mix Fold, its first foldable phone, at 9,999 yuan. In the premium segment, Xiaomi competes against Apple and Samsung at that price point. Oppo and Vivo, two of its domestic competitors, are also attempting to get into the high-end market. “It’ll be a tough struggle,” Stanton said, “with Oppo and Vivo having the same goal and both prepared to spend a lot of money on above-the-line marketing to promote their brands in a manner that Xiaomi isn’t.” “Amid worldwide shortages, all vendors are battling for component supply, but Xiaomi has its eyes set on the next prize: ousting Samsung as the world’s largest seller.” Because of Huawei’s difficulties, Xiaomi has benefited. Huawei was once the world’s largest smartphone manufacturer, but US sanctions cut it off from vital supplies such as software and semiconductors, leading sales to plummet. Xiaomi is aiming to expand into other business areas, even though smartphones remain account for the majority of its revenue. The technology company stated in March that it would start an electric vehicle business and invest $10 billion over the following ten years. — Correction: This story has been modified to reflect the fact that this isn’t the first time Xiaomi has surpassed Apple./nRead More

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